Everyone thinks falling BTC dominance means altseason.
It might.
Or it might mean something far worse.
Here’s what’s really going on 👇🧵
1/ BTC keeps drifting lower.
Alts look worse, bleeding into new lows.
Panic everywhere.
And this is exactly the kind of moment when people stop thinking and start guessing.
Here’s the truth.
3/ So which one are we in now?
That depends on what happens to TOTAL market cap next.
That’s the hidden variable most traders ignore.
BTC.D down while TOTAL is stable or rising = bullish rotation.
BTC.D down while TOTAL also drops = capital exit.
4/ Scenario one: the bullish rotation.
Bitcoin cools off, whales rotate profits into alts, and retail wakes up to green candles again.
That’s the classic altseason setup.
But it only happens when liquidity stays in the system.
5/ Scenario two: the drain.
Money leaves BTC.
Money leaves alts.
Liquidity shrinks.
BTC.D still falls, but only because everything else is falling faster.
That’s not rotation. That’s retreat.
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